37x bull stock anniversary celebration falls over 10% Wireless Media responds: impact of restricted stock release

Jin10 data reported on September 26, wireless media marks the milestone of its first anniversary on the market, but its stock price has suffered a heavy setback. During the trading session, it once fell over 13%. By the closing, the decline narrowed to 10.82%, closing at 41.2 yuan/share, with a total market capitalization shrinking to 16.48 billion yuan. On the news front, 117 million shares of wireless media's initial public offering restricted shares were unlocked today, accounting for 29.17% of the total issuance, compared to 37.8823 million circulating shares before the unlock. This unlock is equivalent to more than tripling the supply of circulating shares, and based on yesterday's closing price, the market value released from this unlock exceeds 5 billion yuan. In response, staff members stated that the company has noticed the abnormal stock price movement today, speculating that it is related to the unlock, but the company has no special constraints on shareholders' normal compliance with stock trading, only suggesting that shareholders extend the selling period to reduce the impact, but cannot enforce it.